Chicago, IL — income, home value, property tax, and sales tax.
In Chicago's 60629 ZIP code, homes carry a median value of $243,600, and the county-level effective property tax rate of 1.91% translates into a substantial annual bill. With median household income at $60,826 and per-capita income of $25,825, that property tax takes a meaningful bite out of earnings, especially for households with a single wage earner. A combined sales tax rate of 10.25% adds further cost to everyday purchases. Together, these figures show how homeownership here stretches household budgets, since property taxes alone claim a noticeable share of what residents bring in each year.
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